Indian Graduates' Employability Rate Reaches 54.81 per cent: Report By addressing regional disparities, fostering gender diversity, and equipping graduates with both technical and soft skills, stakeholders can harness the full potential of the nation's workforce.
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At a national level, the employability rate stands at 54.81 per cent, indicating a substantial pool of talent that has the foundational skills to contribute effectively to the economy. However, this figure also highlights the need for targeted efforts to uplift a considerable segment of graduates who still fall short of meeting industry expectations.
The 2024 Wheebox Skills Report offers a snapshot of India's employability landscape, drawing insights from over 6.5 lakh participants who took the Wheebox Global Employability Test (GET). As the nation strides toward becoming a global economic powerhouse, this report sheds light on the strengths, opportunities, and areas requiring strategic focus to enhance the workforce's readiness for the future.
Educational domains leading employability
The realm of technology and engineering emerges as a beacon of employability, with IT and Computer Science graduates showcasing the highest readiness, scoring 75 per cent and 78 per cent respectively, above the employability benchmark. The engineering disciplines—electronics and communication (72 per cent), electrical (68 per cent), and mechanical (60 per cent)—further reinforce the strong technical foundation of Indian graduates. Interestingly, management education leads the pack, with MBA graduates exhibiting an impressive employability rate of 78 per cent, reflecting their alignment with the strategic and operational needs of businesses.
On the other hand, fields such as the arts, represented by B.A. graduates show moderate employability at 54 per cent, signaling a need for enhanced industry-academia collaboration to bridge the gap in these domains.
Regional powerhouses of talent
The report paints a vivid picture of regional employability dynamics. Maharashtra emerges as the leader, boasting an impressive 84 per cent employability rate. It is followed by Delhi at 78 per cent, Karnataka at 75 per cent, and Andhra Pradesh at 72 per cent. Cities such as Pune and Bengaluru shine as hubs of talent, with employability rates of 78.32 per cent and 76.48 per cent, respectively.
States like Gujarat and Tamil Nadu, although demonstrating potential, indicate areas where strategic interventions could further elevate their talent pools. Gujarat, for instance, leads in employability for the 26-29 age group, reflecting its maturing workforce, but trails behind in overall employability.
The role of skills in employability
Skill readiness varies across states, with distinct strengths emerging. Maharashtra leads in English proficiency, a critical skill in today's globalized workforce, while Uttar Pradesh excels in numerical skills and critical thinking. Furthermore, Uttar Pradesh sets itself apart as a hub for digital readiness, leading in computer skills, followed by Kerala and Maharashtra.
Interestingly, the youngest age group surveyed (18-21) showcases remarkable potential, particularly in states like Uttar Pradesh (92.20 per cent) and Madhya Pradesh (91.15 per cent).
Gender parity and sectoral preferences
The report also delves into gender-based employability, revealing a slight edge for male candidates (53.47 per cent) over females (46.53 per cent). Rajasthan leads in female employability, suggesting that regional efforts to empower women in the workforce are bearing fruit.
The study also provides insights into sectoral preferences. Male candidates show a preference for technical fields like engineering and design, while female candidates lean toward sectors such as wellness, fashion, human resources, and finance. These trends call for policies and programs that encourage diversity and broaden opportunities for all genders in emerging industries.
In an era marked by rapid technological and economic change, employers are prioritizing candidates with adaptability, collaboration, and problem-solving abilities. Alongside these foundational skills, digital literacy and management capabilities have become indispensable in a competitive job market. Emotional intelligence and leadership are increasingly recognized as key differentiators, especially in roles requiring strategic decision-making and team management.
The demand for candidates varies across experience levels and industries. While the hiring appetite for freshers has seen a dip, professionals with 1-5 years of experience remain highly sought after, particularly in manufacturing, automotive, and IT sectors. Meanwhile, industries like pharma & healthcare and BFSI are keen on tapping mid-level professionals with 6-10 years of experience, reflecting a need for a mix of youthful innovation and seasoned expertise.
A workforce ready for the future
By addressing regional disparities, fostering gender diversity, and equipping graduates with both technical and soft skills, stakeholders can harness the full potential of the nation's workforce. Initiatives such as internships, which 93.22 per cent of respondents expressed interest in, can play a pivotal role in bridging academic learning with practical experience. As employers, educators, and policymakers join hands, the vision of an employable, future-ready India is not just an aspiration but an achievable reality.
